First Solar (FSLR) Nabs 160-MW of PV Module Sales in Turkey

August 11, 2016 8:31 AM EDT

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First Solar, Inc. (Nasdaq: FSLR) announced that it has booked 160 Megawatts (MW)DC of photovoltaic (PV) module sales in Turkey in the first half of 2016. The orders were placed by Basariarge Enerji A.S. and Zorlu Enerji.

Zorlu Enerji, a subsidiary of Zorlu Holding, has contracted First Solar to supply 100MWDC of its high performance Series 4 thin film modules, for projects expected to be constructed and commissioned in 2017. Basariarge Enerji A.S. - a joint venture between Basari Yatirimlar, a Turkish infrastructure company, and the Basari Group - has placed orders for 60MWDC of modules that will power its own projects, as well as PV power plants that it will provide EPC services for. The first modules will be delivered in late 2016.

“Zorlu Enerji and Basariarge Enerji join a fast-growing list of Turkish energy companies that benefit from the tangible upside that First Solar’s energy yield advantage delivers in the country,” said Georges Antoun, First Solar’s Chief Commercial Officer. “These agreements confirm assessments that solar energy in general, and First Solar technology in particular, is the right response to Turkey’s energy security challenges – reliably delivering cost-competitive electricity that addresses an immediate need. They also reaffirm First Solar’s belief in the sustainability of Turkey’s solar energy market.”

First Solar established an office in Istanbul in April 2014 and has since secured a contracted module sale pipeline of over 300MW, making it a leading PV module supplier in the country.

“Our track record over the past two years reflects the trust that our customers in Turkey have placed in First Solar and in our module technology. We are very pleased with the progress that we have made and look forward to growing with our customers there,” Antoun added.

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